General Electric (NYSE:GE – Get Free Report) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 12,130,000 shares, an increase of 7.6% from the October 31st total of 11,270,000 shares. Based on an average daily trading volume, of 4,600,000 shares, the days-to-cover ratio is currently 2.6 days. Currently, 1.1% of the shares of the stock are sold short.
Insider Activity
In related news, SVP Russell Stokes sold 15,550 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $178.29, for a total transaction of $2,772,409.50. Following the completion of the sale, the senior vice president now owns 148,857 shares in the company, valued at $26,539,714.53. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Riccardo Procacci sold 7,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now owns 13,289 shares of the company’s stock, valued at $2,407,036.57. This trade represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
Hedge Funds Weigh In On General Electric
Several hedge funds and other institutional investors have recently made changes to their positions in GE. Tsfg LLC increased its stake in General Electric by 12.8% in the 3rd quarter. Tsfg LLC now owns 485 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 55 shares during the period. Macroview Investment Management LLC increased its stake in General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 58 shares during the period. Strategic Advisors LLC increased its stake in General Electric by 2.6% in the 3rd quarter. Strategic Advisors LLC now owns 2,267 shares of the conglomerate’s stock worth $428,000 after purchasing an additional 58 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its stake in General Electric by 1.0% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,299 shares of the conglomerate’s stock worth $1,188,000 after purchasing an additional 60 shares during the period. Finally, Allegheny Financial Group LTD grew its position in shares of General Electric by 1.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after buying an additional 61 shares during the last quarter. 74.77% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Read Our Latest Stock Analysis on General Electric
General Electric Stock Performance
Shares of GE stock opened at $182.61 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13. General Electric has a 52 week low of $94.54 and a 52 week high of $194.80. The company has a market capitalization of $197.63 billion, a P/E ratio of 32.09, a price-to-earnings-growth ratio of 1.77 and a beta of 1.17. The company’s 50 day moving average price is $182.53 and its two-hundred day moving average price is $172.15.
General Electric (NYSE:GE – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. General Electric had a net margin of 11.48% and a return on equity of 18.93%. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same period last year, the company earned $0.82 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, analysts expect that General Electric will post 4.24 earnings per share for the current fiscal year.
General Electric Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%. General Electric’s dividend payout ratio is presently 19.68%.
About General Electric
General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.
Featured Stories
- Five stocks we like better than General Electric
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Tesla Poised to Hit Record Highs This Holiday Season
- What is the FTSE 100 index?
- The Salesforce Rally is Just Getting Started: Here’s Why
- The Basics of Support and Resistance
- 3 Chip and Data Center Stocks That Can Keep Rising in 2025
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.